About Us

Vision & Mission

Reinsurance Security

Management Team & Department Managers

Board of Directors

about

AL SAGR NATIONAL INSURANCE COMPANY

Al Sagr National Insurance Company (ASNIC), Dubai, was incorporated on 25th December 1979 as a public shareholding company through an Emiri Decree by His Highness, the late Ruler of Dubai, and Vice President of the UAE, H.H Sheikh Rashid Bin Said Al Maktoum, and is registered with the Ministry of Economy & Commerce of the United Arab Emirates (UAE) under Reg. No. 202191.  The Company is licensed under License No. 16 in accordance with the Federal Insurance Law No. (9) of 1984 to transact all types of insurance business.

The shareholders of the Company are all UAE nationals who are very prominent in the business world for their varied interest. Their sheer sense of realism and pragmatic approach has greatly contributed to the Company's stride towards progress over a span of more than three decades. Today, ASNIC is, undoubtedly, one of the seven leading insurance companies in the UAE in terms of premium income.

Apart from having reinsurance support from the world's leading reinsurers, the Company has its own Branches all over the UAE, and has a large scale insurance interest in the Kingdom of Saudi Arabia and Jordan.  It has a long line of dedicated and diligent staff members, who are handpicked for their true professionalism and expertise. With their 'near perfect' handling of the affairs under the efficient leadership of the Management, the Company is confident of conquering new heights in its quest for progress and excellence.

ASNIC has never been a lone and solitary marcher in the wilderness. The Company's developmental stride was a harmonious process along with the development of the region, and in accordance with the requirement of its reputed clients. The Company was always quick to respond to the new emerging requirements and situations, which reflected the progress and transformation of the region. The resultant outcome of this hand-in-hand process of development has been remarkably manifold:

  • The Company continues its pursuit of excellence in the sphere of service to its valued customers, always cater to their interest and offer several new insurance products with multiple benefits every year.
  • The financial position of the Company is strengthened from its original capital investment of AED10 million to its present AED230 million paid-up capital, with steady growth of assets every year which has reached AED1.26 billion by the year ended 31 December 2013.
  • Our sister concern, Al Sagr Cooperative Insurance Company, presently operates from its Head Office in Dammam, Kingdom of Saudi Arabia with 2 main branches in Riyadh, Jeddah and 18 Sales Outlets spread across the region. Its paid-up capital is SAR250 million where ASNIC holds a 26% share of the capital.
  • ASNIC also operates in the Hashemite Kingdom of Jordan through its subsidiary, Jordan Emirates Insurance Company, where ASNIC holds an 88.9% stake which certainly renders a tremendous impact on the Company’s operations across the region.
  • The Company entered a very significant stage in its developmental stride, when it was listed in the year 2005, with the Dubai Financial Market, opening up new vistas of opportunities for the company and its shareholders.

ASNIC has been assigned a Financial Strength Rating of B++ (Good) by A.M. Best Europe – Rating Services Limited.

Gulf General Investment Company – GGICO’s insurance business is conducted by ASNIC.  It is the parent company of ASNIC in which it has a 53% shareholding.

Today, due to the above factors and through the dedicated services the Company has been providing its valued customers, the Company has established a niche in the minds of its customers who range from multi-nationals to locals of the region it serves.

View A.M. Best Rating Certificate

Vision Statement

To become one of the leading insurance companies in the region focusing on utmost customer satisfaction through unique insurance solutions combined with professionalism, state-of-the-art expertise and exploiting national talents and resources for the growth and benefit of all stake-holders.

Mission Statement

To deliver the highest level of customer service, which will enhance the reputation of Al Sagr through actual testimonies of clients, delivered by people on the ground with passion & pride. This philosophy is intended to produce loyalty on the part of clients who when they experience our business approach, will make them spread our name through positive "word-of-mouth" testimonials.

LIST OF REINSURANCE SECURITY

We are in a position to quote for and bind immediate cover for any line of business of any magnitude in view of ready support available from our reinsurers. We have excellent treaty and facultative relationship with most of the regional as well as international reinsurers and reinsurance brokers.

Our Treaty Leader is M/s GIC of India (http://gicofindia.in), wholly owned by the Government of India and one of the largest Reinsurers in Asia, followed by other prominent Reinsurers. The reinsurance treaties are arranged with the following Reinsurers:

  • General Insurance Corporation of India (GIC Re), India
  • Hannover Re - Germany
  • Mapfre, Spain
  • Korean Re, Korea
  • Assicurazioni Generali, Italy
  • China Re, China
  • Asia Capital Re, Singapore
  • Malaysian Re, Malaysia
  • Echo Reinsurance Ltd., Zurich
  • IGI, London
  • Trust International Insurance Co. B.S.C, Bahrain
  • CCR, France
  • R+V, Germany
  • Africa Re, Egypt
  • Milli Re, Turkey
  • Lloyds Syndicates (Kiln, Antares, Chaucer, Novae Re & Omega)

MANAGEMENT TEAM

Mr. Sami Shakhshir - Director & CEO

Mr. Ayman El Hout – Deputy CEO

Mr. Hussein Ismail Mohamed - Deputy General Manager

Mr. John Mathai - Assistant General Manager (Finance & Admin)

 

DEPARTMENT MANAGERS

Mr. Mahmoud Abdel Jawad – Assistant General Manager – Abu Dhabi

Mr. Faraj Omari – Assistant General Manager (Motor Department)

Mr. Kesava Moorthy - Senior Manager (Marine Department)

Mr. T.R. Santhosh Kumar – Senior Manager (Life Department)

Mr. Abdel Muhsen Jaber – Senior Manager (Medical Department)

Mr. Ahmed Bseiso – Manager (Reinsurance)

Mr. R. Ramkumar – Manager (Claims)

Mr. Varghese Mathew - Manager (IT)

Mr. Benny Baby John - Manager (HR & Administration) 

BOARD OF DIRECTORS
Mr. Majid Abdulla Al Sari - Chairman

Mr. Khalid Abdulla Omran - Vice Chairman

Mr. Amjad Mohd Yusri Al Dweik - Director

Mr. Sami Shakhshir - Director & CEO

Auditors:

KPMG Lower Gulf Limited

2015 Al Sagr National Insurance Company Terms and Conditions

CCCARD

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